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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Australian Coal Association
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
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